Today was a bad day. 2 SL, 2 BE and two open transactions are also in the red.
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DislikedToday was a bad day. 2 SL, 2 BE and two open transactons are also in the red.Ignored
DislikedI focus on XAUUSD trades with my own RRR compounding template. I like this strategy (8EMA & 16EMA) as its simplicity. {image}Ignored
DislikedI don't have selected currency pairs yet, so I'm entering all pairs. I don't know which ones are best for this strategy. I know that I need a larger selection of inputs because I have too many Sl for TP.I'm wondering what other entry criteria to use to increase the winning percentage. When entering a setup, I always take a screenshot and describe from 1 to 5 how good I think this setup is. On Saturday, after one week, I analyze all entries. I think this is a good way to learn the strategy.Ignored
DislikedBTC is not my fav pair but I had to take this... the reentry after the stopout was based on a break and retest into a bullsish FVG. The 1st entry was a bit over 2x, and the open trade has hit 10x but still running. Combined over +3% so far on my FundedEngineer Challenge which was 6% down. {image}Ignored
DislikedToday I analyzed M30, H1, H4 Gold, and I already know where I am making a mistake. It's not about entries, it's about money management. in the H1 time frame, winnings reach up to 66%. RR 2:1, i.e. exactly as written in point 49. This strategy is very profitable, but without good risk management and a trading plan it is unprofitable. I see that I have been in trade for 2 years and I still have a lot to learn. a good strategy is less than half the battle. Is there anyone who can help me create a good trading plan?Ignored
Disliked{quote} Pick one pair, backtest it for AT LEAST 100 trades on a single time frame (day, 4 hr, 1 hr etc). Record the winning trades max profit. Then filter your data for 1:1 wins, 1:2 wins, 1:3 wins etc. With data you can build a risk plan for that pair and time frame. Without data you are lost! How you manage risk is determined by your risk appetite, which is influenced by your brokers leverage, AND whether you are on a Prop Challenge or a personal account etc. 5% risk per trade on a personal account may be manageable, but even 1% risk is regarded...Ignored
DislikedONLY trade with the Trend... no trend, no trade! On D1 chart, I saw the 8EMA & 16EMA moving up further since they changed the trend due to their crossing each other at the candlestick. I went for BUY trades. {image} {image} {image} {image}Ignored
DislikedXAUUSD RRR 1:2 & 1:3 TP hit along with 8EMA & 16EMA touching the wick at entry of 2068.78. I prefer focusing on XAUUSD. {image}Ignored